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Matthews Canada, in partnership with Castlepoint Kerbel Inc., recognized an unprecedented opportunity for industrial redevelopment in Toronto's Portlands in 2011, identifying the emerging importance of last-mile logistics in the downtown core.
The former Cascade site presented significant challenges: a 16.5-acre L-shaped parcel with an existing 500,000 sq ft building requiring demolition and complete site remediation. Matthews took the initiative to immediately remediate the entire site, transforming what was considered undevelopable contaminated land into viable logistics space for downtown Toronto.
In 2015, Matthews negotiated a design-build, 25-year lease deal with FedEx Canada for an80,000-square-foot courier facility on approximately five acres of the site. FedEx took possession in December 2016, establishing a quality location that created long-term value.
